Mining giant Lonmin has signed a three-year wage agreement with the Association of Mineworkers and Construction Union (AMCU).
The impact of the wage agreement for this bargaining unit is an increase of 7.8% in financial year one‚ 8% in financial year two and 7.1% in financial year three or an average of 7.6% over the three-year period‚ the company said.
The deal is effective from 1 July 2016 to 30 June 2019.
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Chief Executive Ben Magara said: “We have all worked hard to engage each other honestly and respectfully since the long strike of 2014 and this agreement illustrates the emerging maturity of the relationship between the company‚ employees and their union representatives.
"Testament to this level of maturity is the reorganisation process that took place last year which lowered our costs and took place without any labour disruption or work stoppages as well as the current wage negotiation process which has been concluded amicably.
"We must all now concentrate on improving productivity and reducing costs and ensuring a sustainable basis for future employment.”
AMCU led the crippling platinum belt strikes of 2012 and 2014 demanding a monthly entry level wage of R12‚500.
During Monday's briefing on the new three-year agreement‚ Lonmin provided a breakdown of the basic agreed guaranteed packages for employees - noting the figures exclude overtime and safe production bonuses‚ "which make up a significant part of employees’ wages".
AMCU shared these images of the signing:
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